Can parents compel children to give them money?

Question

In other words, can parents force children to agree to fines by threatening them with a loss of privileges?

I know that parents cannot take money from their children as shown in this answer. However, that says nothing about compelling children to give them money through privilege restrictions or other means.

Answer 1

Can children own money?

That is a complex question in many legislations. Children may be able to own money and other property, in their own right, yet be under the legal guardianship of their parents.

• Parents can generally control how minors spend their money.
  (A child saying "Great-uncle left me a million bucks in his will? Great, let's buy a hundred tons of chocolate." would be blocked by the parents and that would be upheld by a court.)
• Parents may be required to take care to preserve the property of their children.
  (A parent saying "Great-uncle left you a million bucks in his will? I'll invest it in lottery tickets, one of them is bound to be a winner." might be blocked by a court.)
• Children with their own income may be required to contribute to household expenses.
  (A parent saying "So you got a summer job? Put your wages into the tin for the summer rent." may be upheld by a court.)

In your specific case, it would matter where you live, where the money comes from, and possibly how old you are.